CBRE Group (CBG) Cut to “Hold” at Zacks Investment Research

CBRE Group (NYSE:CBG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, January 8th.

According to Zacks, “Shares of CBRE Group have outperformed the industry it belongs to, in the past three months. Recently, the company announced the acquisition of a building technical engineering services provider in Italy — Geico Lender S.p.A. The move comes as part of the company’s strategic efforts to expand its facilities management expertise in the region. Notably, CBRE Group is experiencing strength in all three of its regional services businesses and solid growth in occupier outsourcing business. Going forward, its extensive real estate products and services offerings, improving leasing and outsourcing business, strategic in-fill acquisitions, transformational deals, and healthy balance sheet are expected to drive results. Yet, competition from international, regional and local players, its exposure to unfavorable foreign currency movements and uneasiness in certain global economies are concerns before CBRE.”

A number of other research firms have also recently weighed in on CBG. Barclays reaffirmed a “buy” rating and set a $47.00 price objective on shares of CBRE Group in a research report on Wednesday, December 27th. Bank of America increased their target price on CBRE Group from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $42.83.

Shares of CBRE Group (CBG) traded up $0.70 during midday trading on Monday, hitting $45.88. The company had a trading volume of 1,510,000 shares, compared to its average volume of 1,770,000. CBRE Group has a 1 year low of $29.69 and a 1 year high of $45.90. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66. The firm has a market cap of $15,570.00, a PE ratio of 19.86, a PEG ratio of 1.24 and a beta of 1.87.

CBRE Group (NYSE:CBG) last posted its quarterly earnings data on Friday, November 3rd. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.10. CBRE Group had a return on equity of 26.22% and a net margin of 5.75%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. research analysts forecast that CBRE Group will post 2.66 EPS for the current year.

In other CBRE Group news, Director Holdings L.P. Valueact sold 84,500 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $42.82, for a total transaction of $3,618,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Calvin W. Frese, Jr. sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $41.01, for a total value of $820,200.00. Following the transaction, the insider now directly owns 201,673 shares of the company’s stock, valued at approximately $8,270,609.73. The disclosure for this sale can be found here. Insiders sold a total of 2,988,565 shares of company stock valued at $127,627,161 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in shares of CBRE Group by 13,158.3% during the second quarter. Janus Henderson Group PLC now owns 5,733,291 shares of the financial services provider’s stock worth $208,691,000 after purchasing an additional 5,690,048 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in CBRE Group by 273.3% in the second quarter. Alliancebernstein L.P. now owns 3,275,845 shares of the financial services provider’s stock valued at $119,241,000 after acquiring an additional 2,398,384 shares during the last quarter. AJO LP boosted its holdings in CBRE Group by 314.1% in the second quarter. AJO LP now owns 2,887,891 shares of the financial services provider’s stock valued at $105,119,000 after acquiring an additional 2,190,476 shares during the last quarter. Vanguard Group Inc. boosted its holdings in CBRE Group by 4.6% in the second quarter. Vanguard Group Inc. now owns 29,111,569 shares of the financial services provider’s stock valued at $1,059,662,000 after acquiring an additional 1,289,368 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in CBRE Group by 6.1% in the second quarter. BlackRock Inc. now owns 20,546,977 shares of the financial services provider’s stock valued at $747,911,000 after acquiring an additional 1,175,336 shares during the last quarter. 94.74% of the stock is owned by institutional investors.

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About CBRE Group

CBRE Group, Inc is a holding company that conducts all of its operations through its subsidiaries. The Company operates as a commercial real estate services and investment company. The Company operates through the segments: The Americas; Europe, Middle East and Africa (EMEA); Asia Pacific; Global Investment Management, and Development Services.

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